Wimauma vacant land bought for cattle, investment

BUYER: Eisenhower Property Group LLC (principal: Tonya Spencer Hills), Tampa
SELLER: An Development VI LLC
PROPERTY: 15063 Balm Road, Wimauma
PRICE: $975,000
PREVIOUS PRICE: $2.75 million, August 2005
LAW FIRM ON DEED: Johnson Pope Bokor Ruppel & Burns LLP, Clearwater

PLANS, DESCRIPTION: Eisenhower Property Group LLC, an acquisition entity led by Tonya Spencer Hills of Tampa, purchased 164.88 acres of residential land for $975,000.

The price equated to $5,913 per acre.

The vacant parcel is located at the southwest corner of Balm and Balm Wimauma roads and north of Balm Garden Lane. The property is currently zoned to allow one home per acre, but it has no access to public water or sewer services.

Bill Eshenbaugh and Ryan Sampson of Eshenbaugh Land Co. represented the seller.

“The buyer just plans to use it for cattle until the market returns,” Sampson says. “They have no intention of building there for the moment.”

The property was sold as agricultural land and is similar, he says, to a 452-acre property that was sold nearby for $3.1 million. This property was valued somewhat less, he says, because it doesn't have water permits in place for growing fruits or vegetables.